TransCanada Declares Quarterly Dividends

TransCanada Declares Quarterly Dividends
CALGARY, ALBERTA -- (Marketwire) -- 02/12/13 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) today
announced that the Board of Directors (Board) of TransCanada declared
a quarterly dividend of $0.46 per common share for the quarter ending
March 31, 2013, on the Company's outstanding common shares. This is a
five per cent increase over the $0.44 dividend per share paid in each
of the previous four quarters. The common share dividend is payable
on April 30, 2013, to shareholders of record at the close of business
on March 29, 2013.
The Board also declared the following regular dividends on
TransCanada's preferred shares:
-- A quarterly dividend of $0.2875 per share for the period ending March
31, 2013, on TransCanada's outstanding Cumulative Redeemable First
Preferred Shares, Series 1. The dividend is payable on March 29, 2013,
to shareholders of record at the close of business on February 28, 2013.
-- A quarterly dividend of $0.25 per share for the period ending March 31,
2013, on TransCanada's outstanding Cumulative Redeemable First Preferred
Shares, Series 3. The dividend is payable on March 29, 2013, to
shareholders of record at the close of business on February 28, 2013.
-- A quarterly dividend of $0.275 per share for the period ending April 30,
2013, on TransCanada's outstanding Cumulative Redeemable First Preferred
Shares, Series 5. The dividend is payable on April 30, 2013, to
shareholders of record at the close of business on March 29, 2013.
In addition, the Board declared the following regular dividends on
TransCanada PipeLines Limited (TCPL) preferred shares:
-- A quarterly dividend of $0.70 per share for the period ending April 30,
2013, was declared on the outstanding Cumulative Redeemable First
Preferred Shares, Series U. The dividend is payable on April 30, 2013,
to shareholders of record at the close of business on March 29, 2013.
-- A quarterly dividend of $0.70 per share for the period ending May 1,
2013, was declared on the outstanding Cumulative Redeemable First
Preferred Shares, Series Y. The dividend is payable on May 1, 2013, to
shareholders of record at the close of business on March 29, 2013.
These dividends are designated by TransCanada and TCPL to be eligible
dividends for purposes of the Income Tax Act (Canada) and any similar
provincial or territorial legislation. An enhanced dividend tax
credit applies to eligible dividends paid to Canadian residents.
Common shares purchased with reinvested cash dividends under
TransCanada's Dividend Reinvestment and Share Purchase Plan (DRP)
will be acquired on the Toronto Stock Exchange at 100 per cent of the
five-day weighted average purchase price. The DRP is available for
dividends payable on TransCanada's common and preferred shares and
TCPL's preferred shares.
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure, including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with more than 400
billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns or has interests in over 11,800 megawatts
of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems.
TransCanada's common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. For more information visit:
www.transcanada.com/ or check us out on Twitter @TransCanada or
http://blog.transcanada.com.
Forward-Looking Information
This publication contains certain information that is forward-looking
and is subject to important risks and uncertainties (such statements
are usually accompanied by words such as "anticipate", "expect",
"would" or other similar words). Forward-looking statements in this
document are intended to provide TransCanada security holders and
potential investors with information regarding TransCanada and its
subsidiaries, including management's assessment of TransCanada's and
its subsidiaries' future financial and operation plans and outlook.
All forward-looking statements reflect TransCanada's beliefs and
assumptions based on information available at the time the statements
were made. Readers are cautioned not to place undue reliance on this
forward-looking information. TransCanada undertakes no obligation to
update or revise any forward-looking information except as required
by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to TransCanada's Management's
Discussion and Analysis filed February 15, 2012 under TransCanada's
profile on SEDAR at www.sedar.com and other reports filed by
TransCanada with Canadian securities regulators and with the U.S.
Securities and Exchange Commission.
Contacts:
TransCanada
Media Enquiries:
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859
TransCanada
Investor & Analyst Enquiries:
David Moneta/Lee Evans
403.920.7911 or 800.361.6522